India Rupee Surges as RBI Intervenes to Support Currency

India's rupee strengthened by 1% to 90.0963, its most in seven months, after the Reserve Bank of India aggressively sold dollars to support the currency. The RBI's intervention is aimed at unwinding speculative positions, according to Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors. The rupee had reached a record low on Tuesday.